General Knowledge · General Awareness
Assertion: The implementation of the Aadhaar Enabled Payment System (AePS) by NPCI has been a significant driver for financial inclusion in rural India by transforming local Business Correspondents into virtual bank branches. Reasoning: Because AePS allows a customer to perform basic financial transactions like cash withdrawal and balance inquiry using biometric authentication, it effectively removes the barriers of digital illiteracy in remote areas. Select the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The Assertion is incorrect, but the Reasoning is correct.
- 2The Assertion is correct, but the Reasoning is incorrect.
- 3Both the Assertion and the Reasoning are correct, but the Reasoning is not the correct explanation of the Assertion.
- 4Both the Assertion and the Reasoning are correct, and the Reasoning is the correct explanation of the Assertion.✓
Correct answer
Both the Assertion and the Reasoning are correct, and the Reasoning is the correct explanation of the Assertion.
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